Can I Change My Bank Account After Filing Taxes?
Learn how to update your bank account details after filing taxes and understand when an amended return might be necessary.
Filing taxes can be a meticulous process, and sometimes circumstances change after submission. One common situation involves updating bank account details initially provided for tax refunds or payments. This may result from switching banks, closing accounts, or correcting errors.
Checking Refund or Payment Status
After filing your tax return, monitoring the status of refunds or payments is essential. The IRS provides tools like the “Where’s My Refund?” online portal and the IRS2Go mobile app, which require your Social Security number, filing status, and exact refund amount. Refund statuses are updated daily, usually overnight, allowing you to track progress.
For those who owe taxes, the “View Your Account” tool offers an overview of your tax account, including outstanding balances and payment history. This helps confirm that payments are received and applied correctly. Regularly checking this information is especially important if you’ve changed your bank account details, ensuring payments are not delayed or misapplied.
Updating Bank Details on Record
To update bank account details after filing your taxes, contact the IRS directly. You can call their toll-free number or visit a local IRS office. While you cannot change direct deposit information on an original tax return after filing, the IRS can provide guidance on next steps.
If a refund cannot be deposited due to incorrect bank details, the IRS will issue a paper check to the address on file. To avoid complications, ensure your mailing address is current. You can update your address through the IRS website to prevent delays in receiving a paper refund check.
For tax payments set up via direct debit, updating bank information may require canceling the existing payment plan and creating a new one. This applies to installment agreements. Use IRS Form 9465, Installment Agreement Request, to establish a new payment plan with updated bank account details.
When an Amended Return May Be Needed
An amended return may be necessary for significant changes or errors in the original filing, such as omitted income or unclaimed deductions and credits. Use Form 1040-X to correct previously filed returns. The IRS allows up to three years from the original filing deadline to submit an amended return.
If amendments affect state tax returns, file a corresponding state amended return. Each state has its own procedures and deadlines, so consulting a tax professional can help you navigate state-specific requirements and ensure accuracy.
Verifying Confirmation from the Agency
After making amendments or updates, confirm that these changes have been processed by the IRS or relevant tax authority. Obtain written acknowledgment, which serves as proof that your updates or amendments have been received and are being reviewed. Retain this documentation for your records.
The IRS typically takes up to 16 weeks to process amended returns. During this time, check the status of your amendment using the “Where’s My Amended Return?” tool, which provides updates on processing stages and any additional steps that may be required.